05/08/2013 06:33 BST

Easyjet's Stelios Haji-Ioannou Launches Low Cost Supermarket EasyFoodstore

EasyJet founder Stelios Haji-Ioannou at Luton Airport Thursday November 10, 2005, as he celebrated the 10th anniversary of the airlines inaugural flight from Luton to Glasgow. Passengers travelling on the same route today were treated to a celebratory drink and a bar of chocolate. See PA story AIR EasyJet. PRESS ASSOCIATION Photo. Photo credit should read: Chris Radburn/PA.

Easyjet founder Sir Stelios Haji-Ioannou is set to launch the first of his new low-cost supermarket brand in a Croydon tower block.

The "EasyFoodstore" brand will focus on off-brand packet and tinned food and serve as a "low risk experiment in a new market sector", Stelios said.

“I have a feeling that there is a gap in the food retail market – a niche below some of the current budget operators such as Aldi and Lidl."


“If the pilot site shows there is a need for this offering, EasyFoodstore could be rolled out on a wider basis from 2014 onwards using freehold retail sites – buying into the weaker real estate prices in that sector,” he added.

Stelios set up EasyJet in 1995 but left the board in 2010, going on to build a range of 'Easy' brands from car rental to pizza delivery. His group applied to trademark EasyFoodstore in July as a marketing brand, selling food and alcohol.

The's website declares that the new venture is "coming soon".